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The BRICS bloc is working to develop a new BRICS currency to replace the US dollar, alongside local currencies between nations. In an interview with RIA Novosti published The U.S. dollar remains the world\'s primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar, a BRICS is actively de-dollarising its financial flows from above-average levels, as seen through declining shares of US$ in their cross-border bank claims, international debt The Governor of the Reserve Bank of India (RBI) stated that “de-dollarisation is not India’s objective as part of BRICS.” Other senior officials, while supporting trade in local Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what\'s known U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should The decline of the dollar in global reserves, now standing at 59% in 2025, down from 72% in 2025, is not just a matter of capital reallocation. It embodies a gradual rejection of BRICS plans to transform the international monetary and financial system, and debated potential policies at the 2025 summit in Kazan, Russia. Can it successfully challenge Many countries are seeking greater independence from the US financial system. But what makes the US dollar today’s world reserve currency? During the 2025 BRICS At the 2025 BRICS summit, Russian President Vladimir Putin criticised the dollar as a “weapon,” warning that continued US reliance on financial sanctions would backfire in the long run.

US Dollar Collapse? BRICS Currency & the Future of Global Finance

Is the US dollar on the verge of collapse? The rise of the BRICS nations (Brazil, Russia, India, China, and South Africa) and their ambition to challenge the dollar\'s dominance are fueling this debate. Many countries are seeking greater independence from the US financial system, and the BRICS bloc is working to develop a new BRICS currency to replace the US dollar, alongside local currencies between nations.

The BRICS De-Dollarization Push

The decline of the dollar in global reserves, now standing at 59% in 2025, down from 72% in 2005, is a trend to watch. A BRICS is actively de-dollarising its financial flows from above-average levels, as seen through declining shares of US$ in their cross-border bank claims, international debt. This gradual rejection of BRICS plans to transform the international monetary and financial system, and debated potential policies at the 2025 summit in Kazan, Russia, is a key factor in the future of the dollar.

A New BRICS Currency: A Real Threat?

Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what\'s known. At the 2025 BRICS summit, Russian President Vladimir Putin criticised the dollar as a “weapon,” warning that continued US reliance on financial sanctions would backfire in the long run.

US Dollar Remains Strong... For Now

The U.S. dollar remains the world\'s primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar. However, the situation is dynamic, and many countries are seeking alternatives.

India\'s Stance on De-Dollarization

The Governor of the Reserve Bank of India (RBI) stated that “de-dollarisation is not India’s objective as part of BRICS.” Other senior officials, while supporting trade in local currencies, are not pushing for complete de-dollarization.

Trump\'s Warning to BRICS

U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs."

Can BRICS Successfully Challenge the Dollar?

Can it successfully challenge the dollar? The push for alternatives is undeniable. The BRICS nations\' efforts towards a new currency and increased trade in local currencies could gradually erode the dollar\'s dominance. However, significant hurdles remain, and the US dollar\'s entrenched position as the world\'s reserve currency means it will likely remain a major player in global finance for the foreseeable future. During the 2025 BRICS summit the conversation around the dollar\'s future was at the forefront.